Tezos Hard Fork Dune Set for Strong Start

August 29, 2019 / by Crypto.IQ

Tezos’ hard fork Dune is set to have an impressive list of financial backers right from the start.

Forks have always been an integral part of the cryptocurrency industry, and now Dune will be the latest blockchain borne out of a hard fork from Tezos. The interesting bit about Dune is that it already has several well-known investors on-board before the launch.

Dune is marketing itself as a competitor to Ethereum and is being developed by French start-up Origin Labs. Starchain Capital, an investment firm responsible for having invested in many crypto-companies including Coinbase, Augur, MakerDAO, and Kaiko, is one of the bigger supporters.

However, Starchain is not the only company bringing in sizeable funds to the Dune project. Reportedly, the cryptocurrency boasts an impressive number of established investors with strong ties to the tech industry in France.

Supporters include the likes of Marc Simoncini, who is the creator of massive French dating app Meetic and Jean David Blanc, founder of the French cinema database AlloCiné and TV startup Molotov.

The biggest name would be Xavier Niel, a young French billionaire with majority stakes in mobile operator Iliad. Iliad works under the Free brand, that is France’s second-largest internet service provider.

This strong line of commercial investors is difficult to ignore, and it’s even rarer to find a hard fork with this much support before its launch. As such, Dune could potentially become a direct competitor for Tezos.

Even though Tezos claims to have fifty developers actively contributing, Dune argues that the figure is closer to twenty. Dune on the other hand, claims that eleven developers are already involved with development, which is financially supported via Origin Labs.

Nevertheless, in the relatively short history of digital assets, forks have never managed to overtake the original blockchain by market capitalization. This would make a unique feat for Dune, should it manage to surpass Tezos.